20210908 Premarket Prep DAX - Bear Market Trader
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20210908 Premarket Prep DAX

20210908 Premarket Prep DAX

#Fin­twit #Order­flow #day­trad­ing #day­trade #forex #FX #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life #index #indices #DAX #DE30Cash

This is my pre­mar­ket prep for today’s Euro­pean ses­sion for DAX. This prep builds off of my week­ly trade plan I made here:

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Com­pared against Week­ly Trad­ing Plan

  • Price test­ed W1 Sup­ply and start­ed react­ing and is cur­rent­ly trad­ing with­in last week’s body after fail­ing to make a HH (still ear­ly in the week though)
Click to Enlarge

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 Bear­ish Inside Bar at W1 Sup­ply clos­ing at D1 demand
    • H4 Phase 4 com­ing from H4 QHi rejec­tion with no arrival at QLo (yet) trad­ing mid swing
  • Trend: H4 , D1 , W1 
    • Pre­vail­ing trend: 
  • Mar­ket Profile
    • Val­ue cre­at­ed above brack­et­ing range 2 days in a row with price cur­rent­ly trad­ing below
  • Dai­ly Range
    • ADR: 13545
    • ASR: 11015
      • 2750
    • Day
      • Yes­ter­day’s High 15928.30
      • Yes­ter­day’s Low 15808.50


  • LN open
    • Below Val­ue, Out­side Range
  • Open dis­tance to value
    • 0.83xASR
  • Nar­ra­tive
    • Large Imbal­ance. IBR trad­ed down 1.56xASR tak­ing out D1 demand arriv­ing at H4 QLo. Price trad­ing at W1-C‑D 15664.00 (coin­cid­ing with W1 VWAP in UT)
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1
    • Strength From With­in IBR
  • Hypo 2
    •  Failed Auc­tion Long
  • Hypo 3
    •  Weak­ness from with­in IBR, vari­a­tion to Hypo 1, 2
  • Hypo 4
    • Uni­di­rec­tion­al Day as Asia trad­ed down as well, sus­tained auc­tion down (risky)

Addi­tion­al notes

  • N.A.

ZOIs for Pos­si­ble Shorts

  • Not favored in equities
  • D1-C‑S 15966.51
  • W1-C‑S 15830.15

ZOIs for Pos­si­ble Long

  • W1-C‑D 15664.00
  • MN-C‑D 15585.83

Mind­ful Trad­ing (lack of sleep?)

  • Feel­ing okay

Focus Points for trad­ing development

  • Month­ly Goals
    • No momen­tum trades on Non-Farm Fridays
    • Total of 20 trades by the end of the month, prefer­ably 2 a day (not in the same prod­uct at the same time) 
  • Week­ly Goal
    • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
    • No ear­ly exits, either hit SL or 2R target
  • Risk Man­age­ment
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING


Day trader. Tech geek. Sim Racing Enthusiast.

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